Each one of two ice cream stores charges its own price for an ice cream cone: either $2, $4, or $6. It is expected that 6000 ice cream cones per month are purchased by tourists who choose one of the two ice cream stands at random, and 4000 ice cream cones per month are purchased by natives who choose the stand with the lowest price and split evenly in case both stands offer the same price. The costs of obtaining and serving an ice cream cone can be ignored. Draw on Nash equilibria and Pareto optimal strategies to justify what each ice cream store should charge.

Multiple-choice questions have a special grading rule determined by your instructor. assume that your instructor has decided to grade these questions in the following way: if you submit an incorrect answer to a multiple-choice question with n options, you will lose 1/(nâ’1) of the credit for that question. just like the similar multiple-choice penalty on most standardized tests, this rule is necessary to prevent random guessing.if a multiple-choice question has five answer choices and you submit one wrong answer before getting the question correct, how much credit will you lose for that part of the question? multiple-choice questions have a special grading rule determined by your instructor. assume that your instructor has decided to grade these questions in the following way: if you submit an incorrect answer to a multiple-choice question with options, you will lose of the credit for that question. just like the similar multiple-choice penalty on most standardized tests, this rule is necessary to prevent random guessing.if a multiple-choice question has five answer choices and you submit one wrong answer before getting the question correct, how much credit will you lose for that part of the question? 100% 50% 33% 25% 20%